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FREELANCER LIMITED — Interim / Quarterly Report 2015
Oct 14, 2015
64924_rns_2015-10-14_b76ec6d8-d059-4825-8f5d-c8450ed27539.pdf
Interim / Quarterly Report
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ASX Announcement | 15 October 2015
Freelancer delivers another exceptional quarter with record cash receipts in Q3 2015 up 42%, positive operating cashflow year to date, expects to deliver acceleration of revenue growth in FY15
Thursday, 15[th] October 2015 - Freelancer Limited (ASX: FLN), the world’s largest freelancing and crowdsourcing marketplace by total number of users and projects posted, today released its Quarterly Cash Flow Statement (Appendix 4C) for the quarter ending 30th September 2015 ( Q3 2015 ).
Record cash receipts for the third quarter of $9.7 million, up 42%
In Q3 2015, the Company booked record cash receipts of $9.7 million, up 42% over the prior corresponding period.
Strong balance sheet with $42.6 million cash & equivalents
As at 30 September 2015, the Company held cash and equivalents of $42.6 million.
Year to date positive operating cashflow
For 2015 YTD, the Company has had positive operating cashflow of $1.1 million.
Exceptional growth in operating metrics to 16.8 million users and 8.6 million projects & contests posted
In Q3 2015, Freelancer added over 850,000 users (to 16.8 million) and 450,000 projects & contests (to 8.6 million). This represented a 39% YoY increase in users who post projects or contests with a 9% QoQ increase (41% annualised) and brings the all-time posted project value to US$2.8 billion.
NASA partnership
During Q3, NASA partnered with Freelancer.com to crowdsource software and design solutions. So far, this partnership has resulted in a total of 23 NASA contests including:
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A smartwatch application used by astronauts aboard the International Space Station for scheduling, space station systems updates and more
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Concepts for usage of Disruption Tolerant Networking with implications ranging from deep space exploration to planet colonization
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3D tools for Robonaut, a robot assistant used on the International Space Station
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Logos, Banners and 3D trophies for various NASA agencies worldwide
This activity resulted in over 1,500 entries from 81 participating countries and 100+ hits in media including Techcrunch, Forbes, CNN, NBC, Time Magazine and Wired. More information is available here: https://www.freelancer.com.au/contest/challenges/nasa
FREELANCER LIMITED | ACN 141 959 042 | Registered Office: Level 20, 680 George Street, Sydney NSW 2000 Australia T +61 2 8599 2700 | E [email protected] | www.freelancer.com
ASX Announcement | 15 October 2015
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Escrow.com update
In 1H 2015, Freelancer signed a definitive agreement to acquire Escrow.com - the leading provider of secure online payments for consumers and businesses on the Internet. In 2014, Escrow.com had gross payment volume of US$265 million (all-time US$2.2 billion), net revenue of US$5 million and EBITDA of US$1.2 million. Seven out of eight regulators have approved the transaction, and the company anticipates the final regulator to approve in Q4 2015.
Freelancer.com product updates
During the quarter a number of product updates were made to the Freelancer platform:
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Significant improvements were made to the mobile offerings. The complete project funnel was added across all platforms (iPhone, Android & Mobile Web). Browse jobs and Bidding were added to the iPhone app. Accept Job Offers was added across all mobile platforms.
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A new and improved Project View Page was released for all users on web, with more real time features and improved project management. About 60% of our projects now receive a bid within one minute, and all bids are ranked and surfaced in real time.
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A large number of improvements have been made to the platform experience, core algorithms and collaborative tools including the Freelancer Desktop App .
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Brazilian Rea l was added as a currency in Q3, bringing the total number of currencies to 20.
Other product updates
The first phase of network infrastructure improvements for Warrior Forum has now completed and with more emphasis on product, revenue was up 21% on Q2 (107% annualised).
Awards
Freelancer and its management team scooped a number of awards in the quarter including:
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Top Winner, 2015 People’s Choice Stevie Awards for Favourite Companies
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Gold Stevie for Company of the Year - Internet/New Media Awards , The 2015 International Business Awards
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Gold Stevie for Communications Team of the Year , The 2015 International Business Awards
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People’s Choice Award for Internet/New Media, The 2015 International Business Awards
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People’s Choice Award for Media & Entertainment and Business Services, The 2015 International Business Awards
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Silver Stevie for Communications or PR Campaign of the Year, The 2015 International Business Awards
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Silver Stevie for Executive of the Year (Matt Barrie), Business Services, The 2015 International Business Awards
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Silver Stevie for Company of the Year - Business or Professional Services, The 2015 International Business Awards
ASX Announcement | 15 October 2015
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Silver Stevie for Business Services, The 2015 International Business Awards
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Bronze Stevie for PR Executive of the Year (Sebastian Siseles), The 2015 International Business Awards
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Bronze Stevie for Matt Barrie, Executive of the Year - Internet / New Media, The 2015 International Business Awards
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Bronze Stevie for Utilities & Services, The 2015 International Business Awards
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Largest Human Cloud Platforms, Staffing Industry Analysts Report 2015
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Top 100 Most Influential Engineers in Australia (Matt Barrie), Engineers Australia 2015
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Most viewed professionals in Australia - CEO (Matt Barrie), Technology (Matt O’Kane) and Human Resources Category, LinkedIn Power Profiles 2015
Executive changes
Darren Williams will transition to a non-executive director role with Freelancer from October 2015 to spend more time with his young family. Dr Williams has been Chief Technology Officer and an executive director, and will remain on the board of Freelancer after leaving the business day-today.
Willix Halim has been promoted from Vice President to Senior Vice President of Growth. Willix has done an exceptional job in growing the revenue and product side of the business and the promotion is well deserved.
Conclusion
Matt Barrie, Chief Executive of Freelancer, commented on the results, “Freelancer once again achieved exceptional results in Q3 with record receipts from customers and record projects & contests posted with an acceleration on the first half results. FY15 will be an outstanding year”.
ASX Announcement | 15 October 2015
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About Freelancer
Quadruple Webby award-winning Freelancer.com is the world’s largest freelancing and crowdsourcing marketplace by total number of users and projects posted. Over 16 million registered users have posted more than 8 million projects and contests to date in over 750 areas as diverse as website development, logo design, marketing, copywriting, astrophysics, aerospace engineering and manufacturing. Freelancer Limited is listed on the Australian Securities Exchange under the ticker ASX:FLN.
Forward looking statements
This document contains certain "forward-looking statements". The words "anticipate", "believe", "expect", "project", "forecast", "estimate", “outlook”, “upside”, "likely", "intend", "should", "could", "may", "target", "plan" and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance, including Freelancer’s FY15 outlook, are also forward-looking statements, as are statements regarding Freelancer’s plans and strategies and the development of the market. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Freelancer, which may cause actual results to differ materially from those expressed or implied in such statements. Freelancer cannot give any assurance or guarantee that the assumptions upon which management based its forward-looking statements will prove to be correct or exhaustive beyond the date of its making, or that Freelancer's business and operations will not be affected by other factors not currently foreseeable by management or beyond its control. Such forward-looking statements only speak as at the date of this announcement and Freelancer assumes no obligation to update such information. The release, publication or distribution of this document in jurisdictions outside Australia may be restricted by law. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.
For more information please contact:
| Christopher Koch | Investor Relations, Deputy Chief Financial Officer +61 2 8599 2715 [email protected] Snr. International Director (incl. Europe) +44 784 161 2078 [email protected] International Director (incl. Latin America & Spain) +54 911 32 60 07 30 [email protected] Regional Director, South East Asia +63 908 882 8519 [email protected] |
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| Tel | |
| Adam Byrnes | |
| Tel | |
| Sebastian Siseles | |
| Tel | |
| Evan Tan | |
| Tel | |
| http://www.freelancer.com |
ASX Announcement | 15 October 2015
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ASX Announcement | 15 October 2015
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